Expectation of 405,000... Print: 454,000! Worst print in forever (well, October). The BLS calls it a "weather related backlog." Read - snow. Call it what it is - Stagflation, baby.

Non-seasonally adjusted number came at 482,399, as 161,913 people fell off extended benefits.

Continuing claims: 3,991K on expectations of 3,873K.

And just to complete the stagflationary picture, durable goods decreased by 2.5% on expectations of plus 1.5%, down from -0.1%. "This decrease, down four of the last five months, followed a 0.1 percent November decrease. Excluding transportation, new orders increased 0.5 percent. Excluding defense, new orders decreased 2.5 percent."

Note the level of deterioration: durables down from -0.1% to -2.5%, durables ex transportation to 0.5% from 4.5%; Orders non-defense ex aircraft: 1.4% from 3.1%... Bloodbath.

QE3 here we come!

The state by state breakdown is like the insider selling to buying ratio, only flipped, and very much made up.

STATES WITH A DECREASE OF MORE THAN 1,000 (unadjusted)

State

Change

State Supplied Comment

NY

-28,714

Fewer layoffs in the construction, service, and transportation
industries.

GA

-19,429

Fewer layoffs in the construction, trade, service, and manufacturing
industries.

For the life of me...I've been a market junkie for 30 years. Everything I THOUGHT I knew about how money and markets moved and what moved them is now officially out the window.

How can we have a downgrade of Japan's debt (not exactly an obscure economic power last time I looked) and some of the most abysmal economic data reported this morning and this market NOT be setting up to go over the cliff??? Absolutely unbelievable...

How can we have a downgrade of Japan's debt (not exactly an obscure economic power last time I looked) and some of the most abysmal economic data reported this morning and this market NOT be setting up to go over the cliff???

Clearly, you do not understand how the confidence part of a con works.

You, I and many other long time market junkies have undergone the same transformation. It's the re-awakeing! Bring us into the light! :-)

It goes back to the absurdist posts from yesterday where someone else blurted out what I've been saying: "There IS NO Market!" Just like Neo in the Matrix learns from the Spoon Boy that "There is no spoon", we have learned that it's not the spoon thst bends or the market that moves, it's merely The Bernank that moves. The more we accept it, the more money we make (and later, the less we'll lose)

An alternative interpretation of your quote is that, like you state, there is no market. Therefore, the market does not exist, and money does not exist. It is only you.

Spoon boy: Do not try and bend the spoon. That's impossible. Instead... only try to realize the truth. Neo: What truth? Spoon boy: There is no spoon. Neo: There is no spoon? Spoon boy: Then you'll see, that it is not the spoon that bends, it is only yourself.

Another quote:

"The Matrix is a system, Neo, and that system is our enemy. When you are inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters, the very minds we are trying to save. Until we do, these people are part of that system and that makes them our enemies. You have to understand that most of these people are not ready to be unplugged and many are so hopelessly dependent on the system, they will fight to protect it. The Matrix is everywhere. It is all around us. Even in this very room. You can see it when you look out your window or when you turn on your television. You can feel it when you go to work, when you go to church, when you pay your taxes. It is the world that has been pulled over your eyes to blind you from the truth."

One of the reasons for invoking Rule 48 was to give time to install larger LCD panels. NFLX is heading for the moon and they need the larger display area to capture the jump. Where NFLX goes the rest of the market is sure to follow.

The numbers actually aren't that bad. This one of those extremely rare instances when the seasonal adjustment significantly increased the number. I think it only happens in January. The non-seasonally adjusted number wasn't that bad.

And I believe the 404k figure was used to justify a stock market rally. Just like yesterday's new home sales that were skyrocketing and at the same time the lowest in 47 years. Lies, damn lies, etc.......

Indeed. Given the huge disconnect between the initial figures and subsequent revisions, I don't know why the BLS don't just make up whatever numbers they feel are necessary to provoke the market reaction they desire and then revise them later when nobody's looking. Oh, wait....

So, CNBC tells us that snow kept workers at home, hence the spike in filings. Wouldn't snow keep the unemployed from getting to the UE Claim office to file? Can't wait to see the upward revision on this one.....

They have measured 19 inches in Central Park for this latest snowstorm. I would say that there is 10 - 12 inches of accumulation in most areas. The temperature is right around freezing right now. It will hit about 36 in Manhattan.

I hope this doesn't do anything to stop the Netflix rally. It is great that we can build our economy on a company that mails out and streams crappy TV and movie content. Give me more of those "Little Fockers". Who needs to make anything? I wish they would complete the transformation of the Meat Packing District to boutiques and "luxury" condos.

And how often is weather blamed when retail sales come in below expectations. So, when it snows, people stay home and don't shop. But, when it snows, everyone gets in their car and goes to the unemployment office.

Just wait. We are letting go of 2 people out of 5 who have worked 7 and 17 years respectivly at the end of Febuary.The company has been going for 24 years so far.Just hunkering down to try and ride out the storm.

the outlawed Muslim Brotherhood -- the main opposition group, which has so far refrained from officially endorsing the demonstrations -- has called on its members to turn out on the streets in large numbers and join the protests after tomorrow's Friday Prayers. Washington appears to be aling9ing with the protestors – Clinton said "We believe strongly that the Egyptian government has an important opportunity at this moment in time to implement political, economic and social reforms to respond to the legitimate needs and interests of the Egyptian people," she said. No reported Egyptian police on Jan. 27 fired rubber bullets, a water cannon and tear gas at hundreds of protestors in Suez as ElBaradei Offers To Oversee Interim Government whos says Mubarak should retire - STRATFOR/RFERL

The US State Dept. (Read Obama) praised the overthrow of the Tunisian Dictator too. What is the common thread? Who is going to replace these secular dictators in Tunisia and Egypt? Anyone, Anyone? Buehler?

WASHINGTON (Reuters) - New U.S. claims for unemployment benefits rose more than expected last week as harsh weather conditions in some parts of the country kept workers at home and caused a backlog in the processing of claims, a government report showed on Thursday.

When they say workers who do they mean? If you are unemployed then you aren't "a worker" and I have a hard time believing it takes more than 1 govt drone to turn on the computer to file the claims - forget I said that it probably takes 100....

Snow? I thought you file for benefits over the phone or online, and they transfer $$$ to the prepaid debit card. So, no trips to the office to file, and no postal delays to get the check! WTF the snow has to do with the number?

A Labor Department official said snow in four southernstates in previous weeks created a backlog of claims that wereprocessed last week. While the economy has improved, it hasn’tbeen enough to reduce an unemployment rate that Federal Reservepolicy makers said yesterday is too high and requires pressingahead with a $600 billion stimulus plan.

someone actually got it right, snow delayed people from filing so these workers were really laid off in prior weeks and just didn't make it to file until now.